Good place to buy land? (Arlington, Alexandria: for sale, assessor, appliances)

[evilnewbie]

I am looking to buy some land (1 acre) up around falls church area or surrounding cities. I have been checking every month and it seems to me that a lot of land is overpriced. For instance, I see many 1 acre lots selling for 400k to 1+ M but the homes next to these lots are also worth 400k to 1+ M but also has a newly built 3000-6000 sq. foot home. It seems to me that if I buy that lot, I am basically giving the owner a brand new house as profit. I check the county's assessor and other appraisal websites to find the cost of the homes and lots next to these lots. The land prices have been relatively stable for over a year due to perhaps their location but it is a bit excessive to pay profit that is equivalent to a brand new home... the land has not been sold for over a year (and I suspect longer since I don't know how long they were there before I started checking)... I think the land owners aren't selling because their property taxes are very low and so they can hold out as long as they want... Is there a website that can allow me to purchase land at a more reasonable price? Perhaps the websites I am checking aren't listing every land for sale in the area...or can I buy directly from the government?

[VRE332]

How much do you think it will cost to build the home? I think it should cost you no more than $100-200k.

Whats happening is the land owners probably bought the land for so high, now the price has dropped, and taxes are cheap, and assesment is getting lower, they're not going to drop the price. It seems to be affordable for the owner to keep the land and sell in the future.

Just wait to make your purchase after the County impliments a tax hike, and the land price should drop.

[arabellava]

We rebuilt a house with 1/2 an acre- not into McMansion but a 2500 sq ft home.. we paid for many upgrades but it cost 300K and that was cheap (we feel it now by lousy quality- again we picked details such as hardwood flors, bathroom fixtures- appliances (kitchen) was not included in quote but was installed byt contractor)..
So really 330K with many fix ups after wards- yea- relfection of our contractor..

we do look around and consider redoing our home elsewhere (but keeping in mind we actually do have 2 kids versus thinking we wanted 2 kids)..hth

[ViennaSausages]

Originally Posted by VRE332

How much do you think it will cost to build the home? I think it should cost you no more than $100-200k.

Whats happening is the land owners probably bought the land for so high, now the price has dropped, and taxes are cheap, and assessment is getting lower, they're not going to drop the price. It seems to be affordable for the owner to keep the land and sell in the future.

Just wait to make your purchase after the County impliments a tax hike, and the land price should drop.

The national average to build a home is about $80.00 a square foot. Given labor costs and materials costs here, bank on $100 a square foot. So, a stock house at 2,500 sq. ft. with builders grade materials is going to run you close to $250,000. Start adding in vanities, soak tubs, quartz counter tops, stainless appliances, and you're easily going to top $350,000.

[spencgr]

OMG - I started reading these posts and immediately began thinking - "in what world is the OP living in?". Then, I realized the post was 4 years old; prior to the crash. Now i get it....

[ViennaSausages]

I really think with all the Zombie threads running around, there needs to be an auto lock feature on any thread that has gone without a post for 12 months.

[Margery]

Or posters could take a second and check the date in the upper left hand corner.

[FindingZen]

City-Data now likes when threads are revived by new members as many can still be relevant. Of course, unless one prepared to tear down older homes, there are probably about as few truly open and available spaces to build on now as there was when the thread started four years ago. (At least when one is thinking of Alexandria/Arlington/Fairfax/eastern Loudoun).